REPUTATIONAL DUE DILIGENCE

Overseas Business Risk Management Through Integrity Due Diligence And Reputational Compliance

REPUTATIONAL DUE DILIGENCE

Risks are faced by both, companies which operate only in the domestic market as well as those companies, who have expanded their business overseas. However, when you are dealing with the international markets, the amount of legal and reputational risk associated with your company increases automatically. Every country has several regulatory agencies which prescribe various rules for the protection of the interests of its citizens and when you operate in their country, you need to make sure that all these regulations are complied with. It is because of this, exercising due diligence in every transaction has been made compulsory for every company, irrespective of the size and nature of the deal.

USING SERVICES OF BACKGROUND CHECK GROUP

To Safeguard Company Reputation In International Markets

Every country has come out with strict laws and regulations against corruption and bribery. If any such transaction is observed, even your company can be held responsible for the actions of the third party like a supplier, distributor, etc. The only way to safeguard yourself from such charges is to make sure that the relationships you enter into, in the international market, are adhering to all the rules of the land. This verification can be done by engaging the services of perpetual reputational compliance and integrity due diligence offered by BACKGROUND CHECK GROUP.

PARTIES AND CHECKS COVERED

When exercising due diligence on our third parties in the international market, it is important that people from both the sales and supply chains are subjected to this scrutiny. BACKGROUND CHECK GROUP helps its clients in knowing who all belong under the head of third parties. The list provided includes the following people:

  • Joint Venture Partners: Person or company with whom you are entering into an agreement to start a new business overseas.
  • Consortium Partners: Company or individual pooling in resources with you to ahieve common goals.
  • Agent: Person or company hired to represent your company in order to further your interests.
  • Advisor: They provide advice on other companies, people and governments.
  • Contractor And Sub-Contractor: Provides goods and services under a contract.
  • Supplier: Supplies services and parts.
  • Service Provider: Provides functional support.
  • Distributor: procures resources on wholesale and resells them to you.
  • Customer: Recipient of your services and products.

OVERSEAS BUSINESS RISK MANAGEMENT

The third parties can categorized as either low risk, medium risk or high risk and accordingly the extent and depth of screening will be decided. Back check compiles information about these third parties from list of sanctions and watch lists which cover crimes like white collar crime, crimes against humanity, terrorists, non-financial sanctions, financial sanctions, insolvencies, penal and civil procedures, international warrants, wanted list, and many other crimes covered in 1200watch lists spread over 80 countries are covered by BACKGROUND CHECK GROUP.

Great reputational damage can be suffered by a company due to association to wrong third parties. Therefore, hire the dedicated local and global teams of BACKGROUND CHECK GROUP and give your business a transparent and ethical look, which conveys to all government authorities and other people in the market that you are not associated with anything illegal.

 

The first step in the screening process of these third parties is to know the scope of the parties and for that you need to know geographic risk associated with their area of operations, how will the third party be associated with your company, will they contact government agencies on your behalf and will they influence decision relating to your company? Once this scope is decided, due diligence begins.

Screening process includes three steps:

  • Data collection
  • Verification of data
  • Evaluation of results.

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